Malaysia

Fintech / Regtech

BNM Unveils Five Year Blueprint to Develop Financial Sector

By Manesh Samtani | 25/01/2022

The blueprint contains plans to advance financial sector digitalisation, develop an open data ecosystem, and improve efficiency in cross-border payments.

ESG / Sustainability

BNM to Open New Funding Facilities to Support SMEs

By Mark Johnston | 24/01/2022

The Business Recapitalisation Facility will support recovery and growth, while the Low Carbon Transition Facility will support the adoption of sustainable practices.

AML / KYC

Malaysia Receives KPMG Payment to Settle 1MDB Claims

By Editors | 21/01/2022

The 1MDB funds recovered so far are only enough to pay off the principal owed for 2022. The remaining debt will continue to be bourne by the government.

Securities / Derivatives

Bursa Malaysia Enhances Rules on Board Independence, Diversity

By Editors | 19/01/2022

The rule amendments limit board tenure to 12 years, require the appointment of at least one woman director, and enhance transparency on board appointments.

UOB to Acquire Citi Consumer Banking Units in Four Markets

By Manesh Samtani | 17/01/2022

The transaction is estimated to reduce UOB’s CET1 ratio by 70 basis points to 12.8 percent, which is considered not material and “well within regulatory requirements”.

BNM Proposes Rule Changes for Payment Card Industry

By Mark Johnston | 10/01/2022

The changes will address distortions and frictions in the payment card market and foster greater usage and acceptance of payment cards, BNM says.

Enforcement

Malaysia SC Charges Serba Dinamik Execs for False Disclosure

By Ranamita Chakraborty | 06/01/2022

Four executives of oil and gas engineering company Serba Dinamik have been charged for submitting a false statement to Bursa Malaysia.

Fintech / Regtech

BNM Proposes New Licensing Framework For Digital Insurers

By Sanday Chongo Kabange | 05/01/2022

Digital insurers and takaful operators should have a minimum paid-up capital of MYR 40 million during the foundational phase.

Securities / Derivatives

BNM Finalises Guidance for Wholesale Financial Market Conduct

By Mark Johnston | 04/01/2022

Market conduct risk assessments should be done at least annually, to serve as a systematic method for assessing susceptibility to misconduct and documenting mitigating actions or controls.